Blue like an Orange Sustainable Capital, through its second Latin America private credit fund, provided a long-term loan to internet provider MiFibra to increase affordable access to high-speed internet outside of Lima.
As part of the loan agreement with the Luxembourg-based impact investor, MiFibra will implement an action plan to manage environmental and social risks in its business. By expanding access to fiber optic internet in Peru’s underserved cities, Blue like an Orange aims “to contribute to economic development and education access,” said the firm’s Rashad Kaldany.
MiFibra provides free internet to 30,000 students through Peruvian public schools.
Digital inclusion
Peru’s rugged geography has made it difficult to expand fiber optic internet in areas north of Lima. Since MiFibra launched in 2020, the company has provided internet access to over a million homes and businesses, mostly in the northern cities of Piura, Lambayeque, Trujillo and Ancash.
MiFibra will use a portion of the loan to develop its infrastructure in targeted cities. The company has partnered with ZTE on a smart cloud platform to enhance Wi-Fi heat mapping, parental monitoring and operational efficiency.
MiFibra is majority-owned by Scale Capital, a Chilean global private equity firm that specializes in telecommunications and digital infrastructure in Latin America. It is also backed by IDB Invest.
